Nigeria : Govt Receives U.S.$34.8 Billion From Shell

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Lagos — Shell Petroleum Development Company of Nigeria Limited (SPDC) and its affiliate have paid the sum of $34.8 billion as tax and royalties to the Federal Government between 2006 and 2010.

While government received $31 billion from Shell, its affiliate, Shell Nigeria Exploration and Production Company of Nigeria Limited(SNEPCO) paid the sum of $3.8 billion to the coffers of government within the period.

Shell Nigeria Country Chair and Managing Director of Shell Petroleum Development Company of Nigeria(SPDC)Mutiu Sunmonu, disclosed this yesterday at an interactive session with newsmen in Lagos.

According to him,in 2010,Shell-run companies awarded contracts worth more than $947 million to Nigerian companies representing 94% of the total spend for the year.

“As far as possible, Shell companies in Nigeria aim to use Nigerian contractors and hire workers from the local communities where they operate.” Mutiu said last December, SPDC and SNEPCO employed 6,000 direct employees, 90% of whom were Nigerians,while its 650 megawatts Afam VI power plant reached full production capacity and production was increased from the Okoloma Gas Plant in Rivers State.

The Shell boss said last year, the company partnered with Niger Delta Development Commission to promote small business, agriculture and among others in the oil rich region.

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